Utility Equipment Market Study Garbage Trucks, Street Sweepers, Compactors, Winter Maintenance, Sewer & Drainage

(MENAFN- EIN Presswire)

utility equipment market

Discover the combination of utility and aesthetics that defines the global utility equipment landscape, assuring passengers have a comfortable and eco-conscious

ROCKVILLE PIKE SUITE, ROCKVILLE, USA, June 6, 2024 /EINPresswire / --
In 2024, the utility equipment market (ユーティリティ機器市場) is expected to be valued at US$ 12,186.6 million globally. The sales of utility equipment is anticipated to develop at a 5.1% CAGR from 2024 to 2034. It is anticipated that this market will reach a value of US$ 20,040.6 million by 2034.

A notable factor propelling the utility equipment market is growing demand for robust infrastructure due to the necessity of adapting to climate change. Furthermore, industry expansion is facilitated by the use of AI and ML for predictive maintenance and enhanced operations, guaranteeing sustainability and efficiency in utility services.

Get Free Sample Copy of This Report:

The market for utility equipment is expected to be stimulated by the rising integration of smart technologies, the growth of infrastructure for clean energy, and the growing need for robust utility systems. Furthermore, there are opportunities for sustainable growth and development due to the expanding markets for innovations in decentralized energy generation, energy storage, as well as waste management solutions.


Key Takeaways from the Market Study

In 2019, the market for utility equipment was estimated to be worth US$ 9,833.5 million globally.

The market for utility equipment in North America is expected to reach 25.7% market share.

East Asia is predicted to account for 35.8% of the market by 2024.

The US market is projected to reach a valuation of US$ 2,686.6 million in 2024, with a projected increase in market share to 79.3%.

Utility equipment sales in China are projected to reach US$ 1,498.4 million in 2024.

By 2024, garbage truck market share is predicted to reach 36.1%.

By 2024, it is projected that the municipal utility equipment sector will have grown to 84.3% of the market.

“The need for efficient energy distribution, the growing acceptance of smart technologies, and the increased emphasis on infrastructure modernization on a global basis are the factors propelling the utility equipment market. The need for technologies like smart grids, integrated renewable energy, and waste management systems is driven by growing urbanization and environmental concerns,” remarks a Fact analyst.

Competitive Landscape

Utility equipment companies are gaining a competitive advantage by embracing innovative technologies. Efficiency and sustainability are increased with smart grid technology, predictive analytics for maintenance, and the integration of renewable energy sources. Companies that invest in cutting-edge technologies and prioritize innovation are positioned to lead the way in the changing utility sector.

With advancements in energy storage, smart grids, and predictive analytics, startups in the utility equipment sector are altering established conventions. These agile enterprises, which embrace sustainable practices, concentrate on scalable solutions to current utility concerns, offering novel insights and catalyzing industry transformation.

Product Portfolio

In 2023, with the goal of transforming and expanding its company, Dongfeng Motor Co., Ltd. (DFL), Nissan Motor Co., Ltd.'s joint venture in China with Dongfeng Motor Corporation (DFG), has introduced its new strategy, "DNA+". With the emergence of new energy vehicles (NEVs), China's automobile sector is undergoing a dramatic upheaval. DFL's DNA+ strategy seeks to expedite corporate transformation, increase efficiency, and propel the company forward.
At Waste Expo 2023 in 2023, McNeilus and Oshkosh Corporation displayed North America's first fully integrated, zero-emission electric refuse collecting vehicle (eRCV). The United States Environmental Protection Agency (EPA) and the California Air Resources Board (CARB) have both certified the Volterra ZSL waste vehicle as zero emission.
More Valuable Insights Available

Fact offers an unbiased analysis of the global utility equipment market, providing historical data for 2019 to 2023 and forecast statistics from 2024 to 2034.

To understand opportunities in the utility equipment market, the market is segmented on the basis of product (garbage trucks, street sweeper, static compactors, winter maintenance equipment, sewer & drainage equipment), by end use (garbage trucks, street sweeper, static compactors, winter maintenance equipment, sewer & drainage equipment) and region (North America, Europe, Latin America, East Asia, South Asia & Oceania, and Middle East & Africa).

Get Customization on this Report for Specific Research Solutions:

Explore More Related Studies Published by Fact Research:

Tissue Processor Equipment Market : (組織処理装置市場) Expanding at a CAGR of 4.8%, the global tissue processor equipment market is projected to increase from a valuation of US$ 426.30 million in 2022 to US$ 681 million by 2032-end.

Spray Drying Equipment Market : (噴霧乾燥装置市場) The global spray drying equipment market accounts for a valuation of US$ 5.4 billion in 2023 and is extrapolated to secure a revenue of US$ 9.5 billion by 2033-end. This Fact research analysis predicts global demand for spray drying equipment to increase at 5.8% CAGR over the next ten years.

About Fact:

We are a trusted research partner of 80% of fortune 1000 companies across the globe. We are consistently growing in the field of market research with more than 1000 reports published every year. The dedicated team of 400-plus analysts and consultants is committed to achieving the utmost level of our client's satisfaction.

Contact:
US Sales Office
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583, +353-1-4434-232 (D)
Sales Team: ...

S. N. Jha
Fact
+ +1 628-251-1583
email us here
Visit us on social media:
Twitter
LinkedIn
Other

MENAFN06062024003118003196ID1108305549